Nifty Technical Trend Analysis-14th June 2015

June 14, 2015 (1)

In Nifty daily chart the uptrend in Nifty broke down from the uptrend line (support line) of the ascending channel & touched 7997. A throwback can be observed at 8500 & which usually happens after a big down fall. It can also be observed that Nifty re-attempted 3 times to get back in the ascending channel. But it could not & the support line of the ascending channel has become the resistance area for Nifty. A new downtrend in Nifty opened at a fresh new low of 7940 as on 12th June..